Premier Fund Managers Ltd Sells 17,605 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Premier Fund Managers Ltd cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 6.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,095 shares of the home improvement retailer’s stock after selling 17,605 shares during the period. Lowe’s Companies accounts for 2.0% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 16th largest holding. Premier Fund Managers Ltd’s holdings in Lowe’s Companies were worth $54,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LOW. Wood Tarver Financial Group LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at $25,000. Fairway Wealth LLC acquired a new stake in Lowe’s Companies during the 1st quarter worth about $32,000. Orion Capital Management LLC bought a new position in shares of Lowe’s Companies in the 4th quarter worth about $36,000. Inlight Wealth Management LLC bought a new position in shares of Lowe’s Companies in the 1st quarter worth about $36,000. Finally, IFS Advisors LLC lifted its stake in shares of Lowe’s Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LOW shares. Wells Fargo & Company cut their target price on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. Morgan Stanley reduced their price objective on shares of Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. KeyCorp upgraded shares of Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective for the company in a research note on Friday, April 25th. Finally, Guggenheim reiterated a “buy” rating and set a $300.00 target price on shares of Lowe’s Companies in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $271.12.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

LOW opened at $229.98 on Tuesday. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The firm has a market capitalization of $128.89 billion, a P/E ratio of 19.05, a PEG ratio of 2.14 and a beta of 0.90. The company’s 50-day moving average is $222.95 and its 200 day moving average is $232.14.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion during the quarter, compared to analyst estimates of $21.09 billion. During the same quarter last year, the business posted $3.06 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 39.77%.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.